Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (618,000) $ 15,257,000
used in operating activities:    
Amortization of patents 233,000 221,000
Stock-based compensation 407,000 183,000
Loss allocated from equity method investment 1,073,000 632,000
Deferred tax expense 422,000 1,634,000
Amortization of right of use asset, net 27,000
Gain on equity method investment (3,727,000)
Accrued interest on convertible note (86,000)
Gain on conversion of note (271,000)
Unrealized loss on marketable securities 1,079,000 9,000
Changes in operating asset and liabilities:    
Other current assets 32,000 94,000
Prepaid taxes (326,000)
Accounts payable (110,000) (197,000)
Income taxes payable (2,948,000) 3,036,000
Security deposit 8,000
Operating lease obligations (21,000)
Accrued expenses (346,000) (1,276,000)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (5,180,000) 19,601,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of marketable securities 8,750,000 12,291,000
Purchases of marketable securities (22,464,000) (10,597,000)
Development of patents (524,000) (86,000)
Equity Investment (1,000,000)
Convertible note investment (1,000,000)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (15,238,000) 608,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,381,000) (2,410,000)
Value of shares delivered to fund withholding taxes (112,000)
Repurchases of common stock, inclusive of commissions (422,000) (131,000)
NET CASH USED IN FINANCING ACTIVITIES: (2,915,000) (2,541,000)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (23,333,000) 17,668,000
CASH AND CASH EQUIVALENTS, beginning of period 44,497,000 25,505,000
CASH AND CASH EQUIVALENTS, end of period 21,164,000 43,173,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Income taxes 3,165,000
NON-CASH FINANCING ACTIVITIES    
Accrued dividend rights on restricted stock units 37,000 19,000
Right of use asset obtained in exchange for lease liability 204,000
Conversion of note receivable $ 1,086,000